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Curriculum subject

Financial Systems of the European Union

Subject
Subject code FMTC5209
Subject name Financial Systems of the European Union
Credit points 3 ECTS
Grading method Prelim
Subject program
Curriculum subject
Curriculum 2019 FS
Study year
Semester
Subject type Optional
General description
A person passing a training course acquires knowledge concerning the formation, main instruments and operational background of the European Union public finance and the functioning principles of the financial systems, at the same time getting an overview of main trends in the European Union, CAP and regional policy development.
Study outcome
1. NATURE AND DEVELOPMENT OF THE EUROPEAN UNION
The historical background of the European Union and legal nature.
European Union integration and future developments, an Economic Union and Monetary Union.
The Draft Treaty establishing a Constitution for Europe and the Reform (Lisbon) Treaty.

2. THE DEVELOPMENT OF THE EUROPEAN UNION FINANCIAL SYSTEM
The development of an original financial system, policy challenges and budgetary means of the enlarged Union.
The characteristics of the present financial system, the legal instruments.
The financial autonomy of the European Union: the own resources system.
The general Principles governing the European Union budget, implementation and external control.

3. THE FRAMEWORK FOR EUROPEAN UNION EXPENDITURE
The nature of the Common Agricultural Policy (CAP), formation and main instruments.
CAP reforms and issues related to the European Union budget.
The European Union's structural and cohesion policy.
Structural and Cohesion policy development and issues related to the European Union budget.

4. FUTURE DEVELOPMENT OF THE FINANCIAL SYSTEMS
The Multiannual Financial Framework 2014 – 2020.
A new own resources system.
Development of CAP and cohesion share in the budget between 2013 and 2020.
More Europe for the same money.
Literature
COMPULSORY SOURCES:

1. Silberg, U. (2012) Teaching material: https://moodle.e-ope.ee/
2. European Union Public Finance. European Commission KV-70-07-181-EN-C European Union — Public Finance — 4th Edition http://ec.europa.eu/budget/library/biblio/publications/public_fin/EU_pub_fin_en.pdf

RECOMMENDED SOURCES:

3. Silberg, U. (2009). "Review of the EU`s Financial Framework and Public Consultation". Estonian Economic Association: articles from the Annual Conference 2009 (11). Tartu Ülikool, Majandusteaduskond.
4. Silberg, U. (2009). Committee of the Regions role on the Common Agricultural Policy Health Check. The Nordic Association of Agricultural Scientists NJF conference no. 425 Economic Systems Research in Agriculture and Rural Development, Tartu (Estonia), 29 September-1 October 2009.
5. Silberg, U; Krusealle, J. “Local government sustainability in the comparative international perspective” Eesti majanduspoliitika – kolm aastat Euroopa Liidus. XV teadus- ja koolituskonverents, kogumik, Tallinn: Mattimar OÜ, 2007 lk. 82-90 + CD-ROM.
6. Silberg U., Agriculture perspectives under the CAP Reform and Budgetary means of the Enlarged Union 2007 – 2013 EAA 2005.
7. EU 2012 Budget: http://ec.europa.eu/budget/figures/2012/2012_en.cfm
8. The European Union budget at a glance http://ec.europa.eu/budget/library/biblio/publications/glance/budget_glance_en.pdf
9. The European Union's Financial Framework 2007-2013 http://ec.europa.eu/budget/library/biblio/publications/fin_fwk0713/investing_2007-2013_en.pdf
10. Modernising the EU accounts Enhanced management information and greater transparency Your guide to the EU’s new financial reporting http://ec.europa.eu/budget/library/biblio/publications/modern_accounts/modernising_EU_accounts_en.pdf
11. Overview of new financial rules and funding opportunities 2007-2013. A beginners' guide. http://ec.europa.eu/budget/library/biblio/publications/funds_rules/pack_rules_funds_en.pdf
12. Doing business with the European Commission http://ec.europa.eu/budget/library/biblio/publications/business/doing_business_en.pdf
13. Annual Accounts of the European Union Financial Year 2010 http://ec.europa.eu/budget/library/biblio/publications/2011/eu_annual_accounts_2010_en.pdf
14. European Commission proposal for the 2014-2020 Multiannual Financial Framework http://ec.europa.eu/budget/library/biblio/publications/2011/mff2011/MFF_2011_en.pdf
15. Compendium of the public internal control systems in the EU Member States 2012 http://ec.europa.eu/budget/library/biblio/publications/2011/compendium_27_countries_en.pdf
16. EU spending - A myth-buster http://ec.europa.eu/budget/library/biblio/publications/myths/pub_eu_spending_en.pdf

EU Budget on line: http://eur-lex.europa.eu/budget/www/index-en.htm
Current rounds
Financial Systems of the European Union FS170
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